Economic Colonization and a North-South Polarization Term Paper

Economic resolution and a North- southeasterly Polarization - Term Paper ExampleHowever, the above distinction is found to be lacking in the policy statements furnished by global trade and economic bodies like the World administer Organization and International Monetary Fund. An analysis made on the basis of income suggests that the countries falling in the South gat of international trade has per capita income at least less by 50 times in comparison to that of the countries pertaining to the North Pole. Further, the north-south polarization debate gained ground from the period of Cold War due to enormous differences in the economic, political, and military resource conditions of the developed and developing countries. (Johnston, 2000, p. 558) The modern practice of international trade is contribute to the creation of economic colonies depending on the economic and political disparities of the different nations. This growth of economic colonization reinforces the fancy of Nort h-South Polarization. The notion of North-South Polarization earned due importance after the end of the Second World War. It is ascertained that the countries pertaining to the North Pole were referred to as the First World countries. On the other hand, countries belonging to the South Pole were referred to as the Third World countries. It is however, observed that the notion of the third world countries existed prior to the fall of the collectivist states like Soviet Union in 1980. In the previous period, the concept of third world was use in regards to geo-political ideologies in the realm of global politics. Moreover, the distinction between the North and South Polarization was in addition found to have relevance to the levels of industrial practice among the world nations.